SiC Diodes Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2024-2031- (By Derivatives Coverage, Geographic Coverage and By Company)

The SiC diodes market is poised for substantial growth, with projections indicating an increase from US$ 2.34 billion in 2023 to an impressive US$ 7.03 billion by 2031. As the semiconductor landscape evolves, SiC (Silicon Carbide) diodes are becoming a crucial component in various applications, particularly in electric vehicles, data centers, and smart grids. This report delves into the driving factors, opportunities, regional insights, and key players shaping the SiC diodes market from 2024 to 2031.

Market Insights

The SiC diodes market is expected to grow significantly, estimated at US$ 2.65 billion by 2024 and projected to exhibit a compound annual growth rate (CAGR) of 14.9% from 2024 to 2031. SiC diodes stand out due to their superior performance characteristics, including high temperature resistance, low ON resistance, and exceptional voltage and frequency capabilities, outpacing traditional silicon diodes. These diodes are primarily utilized in critical power systems across various sectors, including electric vehicles, data centers, base stations, and smart grids.

Drivers of the SiC Diodes Market

1. Demand for Efficient and Green Solutions: The automotive industry's shift toward electrification is increasing the complexity and functionality of electronic modules. Advanced driver assistance systems (ADAS) and the growing prevalence of electric vehicles (EVs) are amplifying the demand for discrete semiconductors like SiC diodes.

2. Innovative Technology Advancements: Vendors are actively developing new diode and MOSFET technologies tailored for applications such as battery charging, photovoltaic inverters, energy storage, uninterruptible power supplies (UPS), and motor drives. Notable advancements include:

• In July 2021, Microchip Technology launched a new 1700V SiC MOSFET die that offers high efficiency and reliability, serving as a viable alternative to traditional silicon IGBTs.
• In June 2021, Wolfspeed partnered with Shenzhen Gospower Digital Technology to provide 650V SiC MOSFETs for next-generation common redundant power supply (CRPS) solutions.

Business Opportunity in China

China's SiC diodes market is witnessing remarkable growth driven by low-cost manufacturing capabilities and high demand for electronic equipment. The country accounted for a dominant share of 24.2% in the global SiC diodes marketplace in 2023. The outsourcing of semiconductor manufacturing projects from the U.S. to China significantly influences the production of SiC diodes, making it an attractive hub for manufacturers looking to capitalize on lower operational costs and skilled labor.

Growth Potential in South Asia

The semiconductor industry in South Asia is on the brink of explosive growth, particularly in countries like India and Vietnam. The estimated CAGR for SiC diodes in India is a staggering 25.6%, fueled by government initiatives promoting semiconductor manufacturing and a burgeoning demand for consumer electronics. Local vendors are forming partnerships with global semiconductor companies, paving the way for innovative solutions and expanded market reach.

United States: A Leader in SiC Diodes

The United States holds the largest share of the SiC diodes market, accounting for 21.5% of the global market in 2023. This dominance is attributed to the presence of numerous Silicon Carbide vendors and a consumer base that is increasingly inclined to adopt advanced electronic devices. The growth of the electric vehicle market in the U.S. further propels the demand for SiC diodes, fostering a competitive and innovative environment for semiconductor manufacturers.

Category-wise Insights

1. Reverse Voltage Segmentation: The 1200V SiC diodes segment holds the largest market share, accounting for 54.2% of the total market value. These diodes play a crucial role in modern power systems, especially in automotive, telecommunications, and industrial applications due to their high power capabilities.

2. Industry Segmentation: The automotive industry dominates the SiC diodes market, with a market share of 16.4% in 2023. This is largely driven by the need for stable and efficient power supplies across various applications, including UPS, power modules, and wireless charging devices.

Competitive Landscape

The SiC diode market is characterized by intense competition and rapid innovation, with established players and emerging companies offering a wide range of products. Key players in this space include:

• Infineon Technologies
• STMicroelectronics
• ROHM Semiconductors
• Cree, Inc.
• Microchip Technology Inc.
• ON Semiconductor
• CALY Technologies
• WeEn Semiconductors
• Littlefuse, Inc.
• United Silicon Carbide Inc.
• Toshiba Electronic Devices & Storage Corporation
• Bruckewell Technology Ltd.
• SemiQ

SiC Diodes Market Segmentation

By Forward Current:

• 2 to 5 A
• 6 to 10 A
• 11 to 20 A
• 21 to 40 A
• Above 40 A

By Reverse Voltage:

• 650 V
• 1200 V
• 1700 V
• 3300 V

By Application:

• Automotive
• ADAS
• Infotainment
• Body Electronics
• Powertrain & EV Charging
• Medical Imaging
• Communication
• Data Centers
• Defense
• Photovoltaic Solutions
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East and Africa (MEA)

This product will be delivered within 1-3 business days.